Friday, 29 November 2024
The Mighty Headlines
Economics: German inflation increases to 2.2 per cent
Business: Microsoft faces antitrust investigation in the United States
Markets: France’s stock market at a nearly 4-month low
Foreign Affairs: Georgia’s PM suspends talks on EU membership
Security and intelligence: China suspends another high-ranking military official
Domestic politics: UK migration figures hit record levels
The Mighty Stats
FTSE = 8,281.22 (up 0.078 per cent at Thursday close)
S&P500 = 5,998.74 (down 0.38 per cent at Thursday close)
Nasdaq = 19,060.48 (down 0.6 per cent at Thursday close)
CAC40 = 7,179.25 (up 0.51 per cent at Thursday close)
£1 = $1.27 / €1.20
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The Mighty Detail
Economics: German inflation increased to 2.2 per cent in November, up from 2 per cent in October. In September, the rate of inflation in Germany was 1.6 per cent. Combined with new data showing a modest increase in Eurozone consumer confidence in October, a cut in Eurozone interest rates in December is uncertain.
Business: The US Federal Trade Commission (FTC) has opened an antitrust investigation into Microsoft. It is being reported that the FTC is especially looking into Microsoft’s bundling of its Office and security software with cloud services, effectively blocking out potential competitors.
Markets: The French stock market is at a nearly four-month low. French Prime Minister, Michel Barnier, is facing heavy opposition to his budget in the French Assembly and there is a possibility the Government could collapse. On Wednesday, the CAC40 fell to its lowest level since the 6th August and has recovered only slightly since then.
Foreign Affairs: Georgia’s Prime Minister, Irakli Kobakhidze, has said that he is suspending talks on EU membership until 2028. This comes after the EU called for Georgia’s October parliamentary elections to be re-run and said it would stop financial support for the country. The opposition in Georgia refuses to recognise Georgia’s new Parliament and is boycotting it.
Security and intelligence: China’s defence ministry has suspended another high-ranking military official – the latest in a series of dismissals. Miao Hua, the head of the political section of the Central Military Commission is under investigation for breaches of discipline. Miao is reported to be a close aide of President Xi.
Domestic politics: Revised figures show that net migration to the UK reached 906,000 in the year to June 2023. The previous figures had been 740,000. In the year to June 2024, net migration fell to 728,000. This includes 432,225 student visas and 94,253 visas for students’ dependants.
The Mighty Calendar
What’s happening today?
Parliamentary elections in Republic of Ireland
President Macron visits Notre Dame Cathedral, Paris ahead of its re-opening
France, Canada, Switzerland, India GDP data (Q3 2024)
France CPI inflation data (November)
Eurozone CPI inflation data (November)
Germany unemployment data (November)
China manufacturing data (November)
Lookahead to the weekend
Saturday
Emirates Dubai 7s Rugby Tournament continues (ends Sunday)
150th anniversary of birth of Winston Churchill
Royal Observatory Greenwich, special late-night opening
Sunday
Qatar Grand Prix
The Mighty Finale
🌤️Weather today
Sunny and dry for England for most of the day. High of 9oC and low of 6oC. Light rain in Belfast for most of the day. Dry in Edinburgh until the evening.
✏️Life coaching quote of the day
“The happiness of your life depends on the quality of your thoughts.” – Marcus Aurelius, Roman emperor and philosopher
Mighty takeaway: Think uplifting, supportive and helpful thoughts. Say no to the negative thoughts. It’s wholly within your power.
That’s about it for today and this week. We hope you enjoy the weekend and we’ll see you on Monday.
Adios!
The Mighty Memo team